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best insurance warning
sanfly
Posts: 431 Forumite
my son took out mortgage protection insurance with best insurance 3 months ago as recommended by this site, premium £24.21, he received a letter today increasing the premium to £45 , bit steep he thought, you have been warned.
just done a requote online and they still show the lower price when using his original details.....bit naughty
just done a requote online and they still show the lower price when using his original details.....bit naughty
sanfly
0
Comments
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all the companies that use that underwriter have had to up their premiums.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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It's fairly standard for a company to up the terms for existing customers before they up them for new ones. I wouldn't single out any individual company for this.
The alternative is to self insure, by putting the premiums you would usually pay in to a savings account earning the best interest you can. Whether you save enough to cover the "bad times" is up to you. Personally, I'd take the insurance and forget the savings, but that's just my opinion.
I have become very fond of saying that I'm not an IFA and my opinion is just that; the ramblings of someone who really has no idea!!In the beginning, the universe was created. This made a lot of people very angry and was widely regarded as a bad move.The late, great, Douglas Adams.0
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